Memestocks Took a Jog

Bullets from the Day

🧑‍🎓 Student loans return. Student loan payments have been put on hold throughout the COVID-19 pandemic. However, on May 1, the pandemic-era moratorium will end. President Biden is reportedly mulling whether or not to extend the moratorium again, or cancel some student debts altogether. Read more in Axios.

💰 U.S. and U.K. strike deal to end tariffs on British Steel and American Whisky. That’s the headline, word for word, from Wall Street Journal. However, those aren’t the only two genres of goods we can expect tariffs to be lifted on… Read more in Wall Street Journal.

☕ Coffee sales slow in London as Covid infections rise again. Where did COVID go? Not that far away, apparently. Cases are starting to creep up in places like London, where Bloomberg has looked at transactions from Pret A Manger coffee to see how the people’s temperature (pardon the pun) for coffee and social activity. Their suggestion? It’s lower because COVID numbers are rising once again. Read their analysis in Bloomberg.

🏃 Memestocks & Tesla went for a run today. $AMC, $TSLA, and $GME took the top three trending spots for a bit on Stocktwits, in that order. Today was a big day for all three — albeit for different reasons. Here’s what happened in case you missed it: 

• 72 million $AMC shares were traded today, pushing the stock +16.5% to close the day at $18.48. That’s about 164% of AMC’s average daily trading volume (44 million shares/day.) 
• Tesla was today’s second-best performer in Stocktwits Rankings. $TSLA shares saw a 7.9% boost, closing at $993.38/share. Tesla had a better day in the market than Toyota, GM, or Honda… perhaps that had something to do with Elon’s latest spat with the government? Who knows, lol. Tech performed well overall as the Nasdaq increased +1.95%.
• GameStop spent the day trending below Tesla and AMC on Stocktwits, but the Memestock’s price gains were no lie. $GME increased 30.72% to close at $122.83/share. Investors reportedly pushed the stock higher on optimistic speculation that the company might do a share buyback.
• GameStop and Tesla were r/WallStreetBets’ most-talked-about tickers today, so it’s looking like the retail crowd is behind the $GME run. GameStop appeared to be the first stock to take off today, even before AMC or Tesla. 

Earnings from the Day

Carnival was the most watched stock in the Stocktwits earnings calendar today. Thankfully, it didn’t move a whole lot after it reported earnings this morning. It lost just -0.16% today.

However, even though it might be the stream with the most watchers, Adobe stole the show today. It trended for most of the day, as investors waited in anticipation of its earnings in afterhours. Unfortunately, the stock erased most of its +2.8%gains intraday by losing -2.1% in afterhours.

Buzzfeed isn’t a stock that gets a whole lot of love on Stocktwits, nor has it been a stock that has gotten a lot of love since it SPAC’d to market as part of a deal. Today, it got a small blessing in the form of an +8% gain. For this one, though, we’ll have to zoom out to put that gain into perspective… there’s much more upside to recover.

Of course, there were a number of other earnings on our community’s radar today… but we eventually have to press send on this newsletter, so these are just three we chose. To see the rest of today’s earnings, check out the Stocktwits earnings calendar.